Pioneering Spirit: Embarking on an Entrepreneurial Journey
At the age of 50, when most individuals are contemplating retirement, Rakesh Markhedkar embarked on an audacious entrepreneurial quest. With an unwavering determination and a strategic mindset, he envisioned establishing an Engineering, Procurement, and Construction (EPC) company that would redefine industry standards. Undeterred by the absence of resources, Markhedkar’s resolute spirit propelled him to secure funding, garner government contracts, and navigate the intricate web of banking regulations, ultimately building a thriving organization within a remarkable span of five years.
A Meteoric Rise: From Inception to Industry Prominence
Vikran Engineering & Exim Pvt. Ltd., the brainchild of Markhedkar’s visionary leadership, has experienced an exceptional trajectory. From its humble beginnings, the company has soared to unprecedented heights, achieving a remarkable revenue of ₹540 crores in the financial year 2023. This accomplishment stands as a testament to Markhedkar’s acumen and his ability to navigate the ever-evolving landscape of the EPC industry. With an ambitious target of ₹1000 crores set for the forthcoming fiscal year, Vikran Engineering & Exim Pvt. Ltd. is poised to etch its name among the industry’s elite, solidifying Markhedkar’s reputation as a trailblazer in the realm of engineering and construction.
Surmounting Obstacles: Forging Alliances and Securing Resources
In the formative stages of his entrepreneurial endeavor, Markhedkar confronted a multitude of challenges. Recognizing the importance of technical credentials and financial resources, he forged strategic alliances and joint ventures, leveraging the collective expertise and resources of industry veterans. This strategic approach not only facilitated the acquisition of essential credentials but also paved the way for securing crucial banking limits, enabling the company to embark on its growth trajectory with confidence.
Inspirational Leadership: Guiding Through Adversity
As a seasoned leader, Markhedkar understands the pivotal role that leadership plays during times of adversity. His approach to navigating challenges is multifaceted, encompassing the following key elements:
- Inspiration and Vision: Markhedkar’s ability to inspire and motivate his team is unparalleled. By articulating a compelling vision for the future and illustrating the potential for success beyond the current challenges, he rallies his team’s determination and commitment, fostering an environment of resilience and perseverance.
- Effective Goal Setting and Monitoring: Recognizing the importance of clear objectives, Markhedkar ensures that his organization and teams establish well-defined goals. He emphasizes the significance of periodic monitoring, enabling timely course corrections and ensuring that resources are optimized for maximum impact.
- Encouraging Creativity and Innovation: In an ever-changing business landscape, Markhedkar understands the value of embracing creativity and innovation. He actively encourages his team to think outside the box, fostering an environment conducive to the exploration of novel ideas and solutions.
- Empathy and Support: Markhedkar’s leadership style is grounded in empathy and understanding. He recognizes the stress and concerns that individuals may experience during challenging times and offers unwavering support, boosting morale and fostering a sense of collective well-being.
- Prioritization and Focus: With a keen eye for prioritization, Markhedkar guides his team in identifying and focusing on the most critical aspects of their operations. This strategic approach ensures that resources are allocated efficiently, and goals are achieved despite the constraints posed by unfavorable circumstances.
Shared Vision: Uniting Stakeholders Towards a Common Goal
Markhedkar’s vision for Vikran Engineering & Exim Pvt. Ltd. is ambitious yet attainable: to become a “world-class company” renowned for delivering projects ahead of schedule while adhering to the highest standards of quality and safety. This vision resonates deeply with his employees, shareholders, and stakeholders, fostering a sense of unity and collective purpose. Markhedkar firmly believes in the mantra “together we will,” encouraging a collaborative approach where all parties are aligned and committed to achieving this shared vision.
Driving Business Renovations: Fostering Continuous Improvement
In Markhedkar’s leadership philosophy, business renovation is a continuous process, driven by strategic objectives and regular reviews. By fostering an environment of constant evaluation and fine-tuning, he ensures that Vikran Engineering & Exim Pvt. Ltd. remains agile and responsive to market dynamics. This proactive approach not only empowers his subordinates but also cultivates a culture of continuous improvement, enabling the company to stay ahead of the curve and maintain its competitive edge.
Corporate Social Responsibility: Giving Back to Society
Markhedkar’s commitment to corporate social responsibility (CSR) is deeply ingrained in his business strategies. Through the “Subhadra Markhedkar Foundation,” a public charitable trust, he champions various initiatives that promote self-development, spiritual growth, and community outreach. The foundation organizes lectures, blood donation camps, and provides assistance to underprivileged communities, fostering a sense of social responsibility and contributing to the betterment of society.
Philosophical Foundations: Spirituality and Continuous Learning
At the core of Markhedkar’s driving force lies a profound belief in spirituality and a higher power. This belief system serves as a guiding compass, providing direction and a moral framework for his decisions and actions. Complementing his spiritual inclinations is an unwavering enthusiasm for continuous learning and personal growth. Markhedkar recognizes the importance of self-improvement, embracing expanded horizons, and cultivating a deeper understanding of the world around him.
Global Expansion: Strategic Planning and Expert Guidance
Markhedkar’s vision for Vikran Engineering & Exim Pvt. Ltd. extends beyond the borders of India. With a keen eye on global expansion, he has implemented a strategic approach that involves comprehensive market research, analysis of trends, customer preferences, competition, and regulatory requirements across international markets. Recognizing the complexities of global business, Markhedkar seeks guidance from experts and professionals with extensive experience in international operations, increasing the company’s chances of success in diverse markets.
Success Redefined: A Holistic Perspective
For Markhedkar, success is not solely defined by external achievements or financial metrics. Instead, he embraces a holistic perspective, where success is measured by a sense of fulfillment, happiness, and alignment with personal values and purpose. This philosophy is reflected in the company’s commitment to enhancing shareholder value, fostering long-term associations with satisfied employees and business partners, and maintaining a reputation for delivering exceptional results.
The Essence of Leadership: Inspiring and Influencing
In Markhedkar’s opinion, the most significant aspect of leadership is the ability to inspire and influence others positively. While leadership encompasses various qualities and skills, the capacity to motivate individuals and teams to achieve common goals is the core of effective leadership. Additionally, Markhedkar emphasizes the importance of tenacity and persistence, qualities that have been instrumental in his own journey and the success of Vikran Engineering & Exim Pvt. Ltd.
Empowered Society: Contributions from the EPC Industry
As an EPC company, Vikran Engineering & Exim Pvt. Ltd. plays a vital role in contributing to an empowered society. Through their projects, they provide essential infrastructure, ensuring access to water and electricity for every home and family. Markhedkar’s vision of an empowered society is one where everyone is treated with respect and dignity, regardless of their gender, ethnicity, religion, or any other characteristic. At Vikran Engineering & Exim Pvt. Ltd., the mantra “together we will” resonates strongly, fostering an environment of equality, inclusivity, and unity.
